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Home » IBM’s Cloud Q3: 19% Growth to $5.2 Billion
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IBM’s Cloud Q3: 19% Growth to $5.2 Billion

Bob EvansBy Bob EvansOctober 24, 2022Updated:November 17, 20222 Mins Read
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Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.

In this Cloud Wars Minute, Bob reviews IBM’s Q3 numbers, as the company is continuing to make its way back into the greatest growth market.

This Cloud Wars Minute is sponsored by Celonis, the market leader in process mining and execution management. The world’s top 2,000 process fanatics learned to fix process inefficiencies at Celosphere, the company’s annual conference, which was held November 9th and 10th in Munich, Germany. Sign up to watch the free virtual Celosphere 2022 stream here.

Highlights

00:42 – IBM’s overall revenue is up 15%; the cloud business is a major driver of its growth. IBM is playing to all the strengths that the company has built up over the years.

00:59 – Bob says that IBM CEO Arvind Krishna deserves huge credit for the leadership and unification he has brought to the company. Krishna’s contributions to the organization have made it easier for customers to engage with all the good things that IBM offers.

01:22 – IBM’s cloud business in the third quarter was up 19%, for a total of $5.2 billion. This can be credited to the organization’s sharper focus and value proposition, combined with its deep industry expertise.

01:51 – IBM’s 12-month revenue figure for the IBM cloud is up by 20%, for a total of $22 billion.

02:01 – Bob reviews IBM’s cloud revenue numbers for their three categories — software, infrastructure, and consulting. IBM’s software cloud is up 20% to 9.2 billion, its cloud business infrastructure is up 6% to $3.9 billion, and cloud revenue within IBM consulting is up 28% to $8.9 billion.

02:33 – IBM has made significant progress in “finding its feet in the cloud.” IBM customers are beginning to understand IBM’s value proposition around AI hybrid cloud data and cybersecurity. Bob believes that IBM has a lot of value to offer customers and adds that “it’s good to see them finding their way” by combining their strengths in various technologies with their deep industry expertise.


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Bob Evans

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Cloud Wars

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Cloud Wars Founder Bob Evans actively analyzes the Cloud and AI categories through video reports, in-depth analyses, and interviews with the Cloud and AI market’s leaders and innovators. He’s also the creator of the Cloud Wars Top 10, a ranking and ongoing analysis of the world's most influential tech companies driving digital business and the digital economy. Bob is recognized as a world-class strategic communicator focused on emerging business strategy, disruptive innovation, and forward-looking leadership.

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